LONDON, Dec 17 (Reuters) - U.S. private equity giant Carlyle (CG.O) , opens new tab has hired Goldman Sachs (GS.N) , opens new tab to work on its bid for Lukoil assets, two sources familiar with the matter told Reuters on Wednesday, as the race for the sanctioned Russian oil firm's overseas portfolio heats up.

At least a dozen potential suitors have expressed interest in buying Lukoil (LKOH.MM) , opens new tab assets, including Carlyle, U.S. oil majors Exxon Mobil (XOM.N) , opens new tab and Chevron (CVX.N) , opens new tab, Abu Dhabi conglomerate IHC, and Saudi Arabia's Midad Energy, sources have said.

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Both Carlyle and Goldman Sachs declined to comment.

Lukoil is looking to sell its foreign assets after the United States crippled its operations with new sanctions in October aimed at pressuring Russia to end its war in Ukraine.

The U.S. Treasury has said any buyer would need its clearance for the purchase and has given Lukoil until January 17 to conclude talks.

The assets are valued at about $22 billion, spanning oilfields, refineries and thousands of fuel stations worldwide.

Carlyle - one of the world's biggest private equity, alternative asset management and financial services firms - has $474 billion of assets under management, including $20 billion across oil, gas, power, renewables and infrastructure.

The U.S. Treasury has already blocked two bidders - Gunvor and U.S. bank Xtellus Partners - from buying Lukoil assets, highlighting the geopolitical hurdles involved in a potential acquisition.

https://www.reuters.com/legal/transactional/carlyle-hires-goldman-sachs-lukoil-asset-bid-2025-12-17/